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Items come up for sale during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Dried ink sits idly on a workbench during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

A bidder checks the lot sheet during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Ink scrapers and presses sit idle during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Bob Cox, crouching, and Douglas Justus look over a direct-mail press during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Bidders watched as lots came up on the screen during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.



A bidder checks his phone during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Ink scrapers sit ildy on a workbench during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Items come up for sale during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Dried ink sits idly on a workbench during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

A bidder checks the lot sheet during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Ink scrapers and presses sit idle during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Bob Cox, crouching, and Douglas Justus look over a direct-mail press during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Bidders watched as lots came up on the screen during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

A bidder checks his phone during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

Ink scrapers sit ildy on a workbench during an auction of ColorTree Group's machines, presses and equipment at the Villa Park plant site on Tuesday, September 17, 2019.

But not everything sold, said Barret Authur, PPL Group LLC’s vice president. "Sometimes that happens with auctions," he said, adding that the auction was well attended both online and in person.

PPL Group, which handles liquidation and auctions of industrial plants and equipment, and North East Printing Machinery Inc., which trades used graphic arts equipment, handled the on-site and online auction.

PPL Group now has until the end of October to supervise the removal of the equipment from Colortree's plant at 8000 Villa Park Drive, off East Parham Road near Brook Road.

The offset printing presses and other equipment were the first major disposal of assets of the Henrico County-based printing company since Colortree abruptly shut down in June, laying off all 240 employees.

Colortree had operated for more than 30 years printing direct-mail envelopes, flyers, brochures and other products.

The auction was conducted for Sterling National Bank, which provided financing to Colortree’s owner for its operations that was secured by liens on substantially all of the company’s assets. Sterling is owed more than $6.8 million, court documents show.

U.S. Bankruptcy Court Judge Keith L. Phillips agreed on Monday to allow the auction to proceed as scheduled.

Sterling had sought relief from an automatic stay filed by a lawyer representing three creditors to stop any creditors from selling off assets or collecting claims. The automatic stay called into question whether the auction would be allowed or not.

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The three creditors filed a petition in the U.S. Bankruptcy Court in Richmond last week trying to force the printing company into involuntary bankruptcy protection. The creditors claim Colortree owes them a total of more than $8.2 million.

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